🔴 LIVE: The Secrets of ProPicks AI Success Revealed + November’s List FREEWatch Now

Italy's Senate passes new motorway rules in threat to Atlantia's license

Published 02/26/2020, 01:35 PM
Updated 02/26/2020, 01:41 PM
Italy's Senate passes new motorway rules in threat to Atlantia's license
ATL
-

ROME (Reuters) - Italy's Senate on Wednesday gave its final approval to a decree containing new rules that make it easier and less costly for the state to revoke motorway concessions.

The government has threatened to withdraw the license of infrastructure group Atlantia (MI:ATL) after a bridge in Genoa operated by its motorway unit Autostrade per l'Italia collapsed in August 2018, killing 43 people.

Atlantia has always denied wrongdoing in the disaster and says it will challenge any revocation in the courts, opening the way for a potentially long and costly legal battle.

The decree presented by the coalition government of the anti-establishment 5-Star Movement and the centre-left Democratic Party was approved in a confidence motion by 154 votes to 96.

The legislation had already been passed in the Chamber of Deputies and so now becomes law.

Governments in Italy often use confidence votes to hasten approval of bills by truncating debate and amendments. If a confidence vote is lost, the government is obliged to resign.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.